Conagra Brands expects inflation to further eat into profit, cuts FY forecast

Reuters2021-07-13

(Reuters) - Packaged foods company Conagra Brands Inc lowered its full-year profit and margin forecasts on Tuesday, warning that raw material and production costs would be "materially higher" than it ...

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CHUMOI
2021-07-13
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href=https://finance.yahoo.com/news/conagra-brands-cuts-annual-profit-114729605.html><strong>Reuters</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>(Reuters) - Packaged foods company Conagra Brands Inc lowered its full-year profit and margin forecasts on Tuesday, warning that raw material and production costs would be \"materially higher\" than it ...</p>\n\n<a href=\"https://finance.yahoo.com/news/conagra-brands-cuts-annual-profit-114729605.html\">网页链接</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"CAG","symbol_name":"康尼格拉","start_time":0,"source_url":"https://finance.yahoo.com/news/conagra-brands-cuts-annual-profit-114729605.html","article_id":"1174440644","we_media_id":null,"thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1174440644","pubTimestamp":1626182012,"sourceInfo":{"source_id":"lsy1612507957220","name":"finance.yahoo"},"weMediaInfo":null,"summary":"(Reuters) - Packaged foods company Conagra Brands Inc lowered its full-year profit and margin foreca","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"CAG":"康尼格拉"},"translate_title":"Conagra Brands预计通胀将进一步侵蚀利润，下调财政年度预测","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"CAG":0.9},"content_text":"(Reuters) - Packaged foods company Conagra Brands Inc lowered its full-year profit and margin forecasts on Tuesday, warning that raw material and production costs would be \"materially higher\" than it previously estimated.\n\"As the fourth quarter unfolded, input cost inflation accelerated and we now expect fiscal 2022 input cost inflation to be materially higher than we anticipated at the end of fiscal Q3,\" Conagra CEO Sean Connolly said in a statement.\nIngredient and packaging costs represent 60% to 65% of the total cost basket of the company, which makes of Duncan Hines cake mixes and Marie Callender's pulled 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